Adopted FY 2021 Budget
What's ahead for 2021? More tax relief, cash-funded capital projects, and more investments into our multi-year plans to make Southlake the best it can be. Despite the challenges of Covid-19, the adopted budget moves Southlake forward while still adhering to the strong financial principles.
Visit the Your Taxes for Your Southlake webpage to read more about property tax calculation and Southlake's tax relief initiatives. Stay on this page to learn how the adopted budget will see Southlake into 2021 and beyond.
There are several ways to read through the document. Click on the front page image to read it in its entirety, or click on the individual chapters listed below.
The transmittal letter offers readers an overview of the adopted budget. In addition to the letter, the links offer fund-by-fund spending summaries, an in-depth look at the Capital Improvement Program, an overview of how each department works towards its goals, and a guide to the City's strategic direction.
Questions about the document or anything in it? Contact us by clicking here.
What's included in the FY 2021 Budget?
- A property tax rate reduction of $.05 from $.41 to $.405, and the maximum homestead exemption (20%) allowed for by law.
- Cash and short-term borrowing for Capital Improvement Projects so the City can continue the reduction of tax-supported outstanding debt.
- Strategic Investments tied to Southlake's Safety and Security, Partnerships, Quality Development, Improved Mobility, City Infrastructure, and Volunteerism.
- City workforce investments that help recruit and retain highly engaged employees.
- Public Hearing for FY 2021 tax rate: September 1, 2020, and, September 15, 2020
- Proposed FY 2021 budget first reading: September 1, 2020
- Proposed FY 2021 budget second reading: September 15, 2020 - Notice of Public Hearing
- Beginning of FY 2021: October 1, 2020
- End of FY 2021 Fiscal Year: September 30, 2021